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In October, Harry Company reports 21,000 actual direct labor hours, and it incurs $115,000 of manufacturing overhead costs. Standard hours allowed for the work done is 20,000 hours. The predetermined overhead rate is $6 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $4 variable per direct labor hour and $50,000 fixed. Compute the overhead controllable variance.
Calculate the following ratios at December 31 2008 acid-test ratio and rate of return on total assets
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Create a situation or scenario in which it may be appropriate to recognize revenue as the productive activity takes place. State whether or not there are any other times appropriate for recognizing revenue. Give a rationale with your response.
Purpose a classified balance sheet for Simon Company at December 31, 2006 - prepare a classified balance sheet for Simon Company at December 31, 2006.
What are the major risk factors that you see in this project? b. As the controller and a management accountant, what is your responsibility to this project? c. What do you recommend the CEO do?
The new patent will protect the value of the old one only for a 4 year period. Illustrate what are the adjusting journal entries
Depreciation under Straight Line Method and Double Declining Balance Method.
Using the high-low method, determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function. and Using your equation, forecast electricity cost at a volume of 29,000 units produced.
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Evaluating revenues, expenses and income. Fill in the blanks in the following separate income statements a through e. Check any negative amount by putting it in parentheses.
All sales are recorded net of the 2% discount offered by the company. (Any discounts not eventually taken by the purchaser are recognized as interest income.
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